Rental Property Investor · Little Rock, AR · Member since 2017 · 134 posts · 71 votes
Hi all, quick question -
If you have a realtor you're working with and for whatever reason you end up not doing a deal with them (at least not for the immediate future), but you really appreciate their time and effort, is it appropriate to do something to show it? I have no idea what is appropriate etiquette for this situation or even what the legal parameters are. I know in my field I'm not allowed to take gifts in most situations, so I'm curious what I could potentially do in this situation. Thanks!
I would say this is certainly acceptable. As you know the agent doesn't get paid until you would actually buy something. If they've showed you a bunch of properties, and you're not buying one, they've spent a lot of time and effort with no results.
I would say this is certainly acceptable. As you know the agent doesn't get paid until you would actually buy something. If they've showed you a bunch of properties, and you're not buying one, they've spent a lot of time and effort with no results.
Rental Property Investor · Cleveland, MN · Member since 2017 · 518 posts · 354 votes
9y
Tell them that you appreciate all of their help over these years (or whatever) and ask if you can have a pile of their business cards to share with friends.
Property Manager · De Soto, KS · Member since 2017 · 58 posts · 30 votes
9y
Referrals are definitely always welcome. As a Realtor I know that every contact does not result in a sale. Agents just want the same respect for their time and effort as everyone else does. Referrals, continued business, being straight forward during business dealings, etc.
As an investor and property manager I try to communicate w/agents as promptly and professionally as I expect from them.
It's all about building a great, professional relationship.
Investor · Milford, Connecticut (CT) · Member since 2017 · 47 posts · 12 votes
8y
I have a question about etiquette with realtors as well: I have not verbally committed to a realtor yet during our house search, but I have talked to two different realtors, and in trying to look at properties online a third began emailing me. If one of them brings me something I like I assume I'm free to go with that? I'm not trying to string anyone along, but I'm also just trying to get a good sense of what's in the market I'm moving to from afar.
Real Estate Agent · Geneva, IL · Member since 2015 · 403 posts · 172 votes
8y
@Rachel Fazio that is very kind and sweet of you to think like that. As a licensed agent I am not allowed to get paid except through my brokerage! A thank you card would be very welcomed and also a referral. It is our job as agents to screens referrals and leads so for me, at least, I love referrals.
@Curran D Bishop - quick question - did you sign a buyer agency agreement with any of your agents? If so, that will be a problem. It gets really messy when you are using several different agents all in the same area. I guess my question would be - Do you not trust your agent or do you think they are not knowledgeable of the area? Why do you have to work with so many?
Investor · Milford, Connecticut (CT) · Member since 2017 · 47 posts · 12 votes
8y
@Patrice Boenzi, I have not signed a buyer agency agreement with anyone. I am looking for housing for myself, but will also be looking for investments.
When I was first looking at moving to the area my employer set me up to look around just to get to know the area with one agent but they just picked at random: I rode around with him and had one phone conversation maybe six months ago.
I got a very high referral from a friend who is very connected to the area, and this is the agent I have corresponded most with (couple phone calls, 4-6 emails all within the last month or so).
The third agent emailed me when I was looking at properties on my own online and in order to see a particular property I had to enter my email. She offered in her email to set up notifications by my search criteria so I clarified the search criteria and she asked if I had an agreement with anyone--so I thought I'd better get some education on the etiquette before going any further.
At this point I think I'd like to work with the 2nd agent (the one my friend referred me to).
Real Estate Agent · Geneva, IL · Member since 2015 · 403 posts · 172 votes
8y
@Curran
@Curran D Bishop it sounds like the Realtors were doing a good job following up on a lead. From my experience, most buyers will work with someone that was referred to them. Good luck in your search! This sure can be a fun, exciting, frustrating, and rewarding process. Happy Thanksgiving!
Rental Property Investor · Los Gatos, CA · Member since 2017 · 123 posts · 131 votes
8y
@Rachel Fazio Don't forget Rachel, you also spent your time with the agent looking. Just like the agents time is valuable, yours is as well. An agent doesn't get paid until you buy a property. You don't get a property until the agent finds you a property and successfully negotiates a deal for you. It's a two way street in my mind. With that I always give gifts to agents we do deals with. If you want to give something give something that has a lasting value. You've probably gotten to know your agent, so get something that you know they'll use and think of you when they use it. That way if they come across a property that fits your needs you'll hopefully be the first one they think of sharing it with.